MiCA: the European Commission has adopted 4 new delegated acts
The Markets in Crypto-Assets (MiCA) Regulation will be applicable in its totality from December 30, 2024; however, the requirements set for asset-referenced tokens and e-money tokens will be applicable as early as June 30, 2024.
MiCA requires ESMA to develop a series of Regulatory Technical Standards (RTS), Implementing Technical Standards (ITS) and Guidelines, for many of them in close cooperation with the EBA (European Banking Authority).
The European Commission has taken a further step towards the implementation of the MiCA Regulation by adopting, on 22 February 2024, four MiCA delegated acts regarding:
The criteria used to classify "Asset Reference Tokens" (ART) and "E-Money Tokens" (EMT) as significant.
The rules governing EBA’s sanctioning power over significant ART and EMT issuers.
Supervisory fees that may be charged by EBA to significant ART and EMT issuers.
The conditions for exercising authorities’ power of intervention on products regulated by MiCA.
The European Parliament and Council shall have a period of three months, renewable once, to raise objections to these delegated acts. After the expiry of this period, the acts will begin to apply.